The Colonial Life & Accident Insurance coverage Firm relies in South Carolina and has been in enterprise since 1939. They concentrate on life insurance coverage but additionally provide different varieties of insurance coverage, corresponding to accident and incapacity insurance coverage. Proper now, they provide insurance policies in 49 states.

This firm was initially based as an accident insurance coverage firm however began providing life insurance coverage shortly thereafter. They had been run as an impartial firm till 1993 once they had been bought by Unum. The corporate stays a Unum subsidiary. Most of this firm’s enterprise comes from promoting insurance policies to staff. Nonetheless, you can even buy insurance policies individually by way of their community of impartial brokers all through the nation.

You might have many selections on the subject of choosing a life insurance coverage firm, and it may be troublesome to find out which possibility is best for you. On this article, we’ll check out the Colonial Life & Accident Insurance coverage Firm that will help you decide if they’re a superb match on your insurance coverage wants.

What Sorts of Insurance coverage does Colonial Life & Accident Insurance coverage Supply?

Colonial Life & Accident Insurance coverage provides a number of varieties of life insurance coverage in addition to different varieties of insurance coverage. Listed below are the varieties of insurance policies accessible.

Time period Life

Time period life insurance coverage insurance policies are essentially the most reasonably priced kind of life insurance coverage coverage that this firm provides. This kind of life insurance coverage solely lasts for a selected variety of years – Colonial Life & Accident provides 10, 15, 20, and 30 12 months choices.

These insurance policies are easy and simple to buy and are a superb possibility for most individuals. You possibly can modify the size and quantity of your life insurance coverage coverage to suit your present circumstances. For instance, many individuals will time the top of their time period life insurance coverage coverage to coincide with their children changing into financially impartial or paying a mortgage off.

Complete Life

Colonial Life & Accident additionally provides complete life insurance coverage insurance policies, that are extra complete than time period life insurance policies. This protection lasts till the age of 100 and comes with a money worth element. After a sure level, you’ll now not have to make funds. Relying on the plan, your premium funds will cease both at age 70 or age 100. Though complete life insurance policies are extra complete than time period life insurance policies, they’re additionally dearer.

These insurance policies are greatest for individuals who want long-term protection till the top of their life. It’s also possible to use an entire life coverage as an funding automobile, and many individuals use them as a part of their wealth-building technique. Nonetheless, for the common individual, an entire life coverage isn’t going to be obligatory.

Incapacity Insurance coverage

This firm additionally provides incapacity insurance coverage, which might exchange your revenue for those who grow to be disabled and can’t work at any level. Relying on what kind of coverage you will have, you possibly can take pleasure in short- or long-term advantages.

With incapacity insurance coverage, you need to use your payouts for any bills you want to, and you may specify the frequency of the payouts. This kind of insurance coverage can be utilized for any medical situation that may render you unable to work, together with severe accidents, main surgical procedures, sicknesses, and even difficult pregnancies and beginning.

Accident Insurance coverage

Accident insurance coverage provides protection for sudden accidents that trigger severe harm. This kind of protection will pay for medical payments, misplaced wages, and different sudden bills that will pop up after an accident. Should you do file a declare, your protection is usually paid out in a lump sum that instantly correlates with the severity of the accident you had. This kind of protection might be useful for individuals who take part in athletic or out of doors actions with some bodily threat.

Hospital Indemnity Insurance coverage

This kind of insurance coverage is designed to complement your medical health insurance plan. It covers most hospital stays in addition to some surgical procedures and associated bills. This kind of insurance coverage can fill the hole between your whole hospital invoice and what your conventional medical health insurance plan covers.

Whereas many medical health insurance plans do cowl inpatient hospitals stays, they received’t essentially cowl different bills associated to them. For instance, many individuals want further bodily remedy, diagnostic exams, and ongoing physician’s visits after a hospital keep, and these prices can add up. Hospital indemnity insurance coverage can just be sure you get all the care that you simply want.

Vital Sickness Insurance coverage

If you’re identified with a crucial sickness, the sort of insurance coverage may also help cowl a few of the sudden bills that include that. Vital sickness insurance coverage may also help with medical payments in addition to misplaced wages, further rehabilitation prices, journey to and from therapy, and extra. Colonial Life & Accident additionally provides an identical kind of insurance coverage for people identified with most cancers.

Dental & Imaginative and prescient Insurance coverage

Sadly, most conventional medical health insurance plans don’t provide dental or imaginative and prescient protection. Colonial Life & Accident’s dental and imaginative and prescient protection can be utilized to complement your current medical health insurance protection to pay for dental remedies in addition to eyeglasses and different imaginative and prescient remedies.

Dental and imaginative and prescient care can get costly in a short time, typically with out warning. Utilizing dental and imaginative and prescient insurance coverage to complement your current medical health insurance plan ensures that it is possible for you to to get the care you want while you want it.

What Type of Riders does Colonial Life & Accident Insurance coverage Supply?

Many life insurance coverage firms provide riders that will help you additional customise your life insurance coverage coverage. Nonetheless, it’s unclear whether or not Colonial Life & Accident Insurance coverage provides riders on their insurance policies. You’ll need to speak to an agent on to study extra in regards to the rider choices they’ve accessible.

What Distinctive Options does Colonial Life & Accident Insurance coverage Supply?

Colonial Life & Accident Insurance coverage is exclusive in that they provide all kinds of protection sorts past conventional life insurance coverage. Severe accidents and sicknesses might be very costly to handle, and commonplace medical health insurance protection in the USA might be very restricted. Colonial Life & Accident Insurance coverage obtained their begin promoting accident insurance coverage again within the early twentieth century, so it stays an essential a part of their enterprise. Colonial’s further incapacity, accident, and sickness insurance policies can provide the peace of thoughts you want if you’re involved about these further medical bills.

Monetary Rankings

One of the crucial essential issues to think about when deciding on an insurance coverage firm is its monetary rankings. You wish to be fully assured that your insurer can be financially secure sufficient to pay their claims whatever the present financial panorama.

Colonial Life & Accident Insurance coverage Firm has been in enterprise for a really very long time and has a fame for being very financially secure. They presently preserve an “A” ranking from A.M. Finest, which is a corporation that assesses and charges the monetary stability of insurance coverage firms. Whereas an “A” ranking shouldn’t be the very best ranking accessible, it does point out that the Colonial Life & Accident Insurance coverage firm is dependable and might be trusted to pay their claims.

Whereas A.M. Finest is arguably essentially the most trusted firm that charges the monetary stability of insurers, there are others that accomplish that as nicely. Colonial Life & Accident Insurance coverage Firm additionally has an A3 ranking from Moody’s, an A- from Fitch, and an A from Normal & Poor’s.

Critiques of Colonial Life & Accident Insurance coverage Firm

One other good option to decide if a life insurance coverage firm is best for you is by critiques from earlier clients. Whereas everybody’s expertise is completely different, critiques can provide you a common thought of what you possibly can anticipate from this insurance coverage firm.

Colonial Life & Accident Insurance coverage Firm Appears to get Combined Critiques From Their Clients.

They aren’t presently accredited by the Higher Enterprise Bureau. On-line critiques for this firm typically complain about troublesome customer support experiences in addition to gradual fee processing occasions.

Nonetheless, the NAIC Grievance Index reveals that Colonial Life & Accident Insurance coverage Firm receives fewer complaints than its rivals. This index is measured yearly to see which insurance coverage firms obtain essentially the most formal complaints from their clients.

What’s the Utility Course of for Colonial Life & Accident Insurance coverage Firm?

Colonial Life & Accident Insurance coverage Firm sells their insurance policies by way of over 10,000 impartial insurance coverage brokers all through the nation. Moreover, Colonial Life & Accident Firm works with many employers to supply their insurance policies on a bigger scale.

Sadly, Colonial Life & Accident presently doesn’t provide a simple option to apply by way of their web site. Whereas their web site does have details about every kind of coverage they provide, they don’t have a fast option to get a quote.

As an alternative, you’ll should contact an agent in your space. Fortunately, Colonial Life & Accident Insurance coverage does provide a full listing of brokers all through the nation on their web site. If you wish to get a quote, you can even name their customer support workforce instantly.

Many individuals like having a dependable insurance coverage agent they will name anytime points come up with their coverage. Nonetheless, for those who favor to deal with your coverage on-line, this might be irritating.

When you’ve discovered an agent, they may also help you discover the proper coverage on your wants. Upon getting a coverage in place, the corporate does give the power to file a declare and get different policyholder help on-line.

The web declare submitting system that Colonial Life provides is pretty simple. It walks you thru the steps of submitting a declare and helps you discover the proper paperwork and data to file. As soon as your declare has gone by way of, you possibly can observe it and they’ll deposit the funds instantly into your checking account.

Should you would like to not file a declare on-line, Colonial Life does additionally permit you to file claims by way of their customer support line and by faxing within the required claims paperwork. Nonetheless, this might end in elevated claims processing occasions.

Is Colonial Life & Accident Insurance coverage Firm Legit?

Colonial Life & Accident Insurance coverage Firm is a authentic insurance coverage supplier. They’ve a good choice of life insurance coverage insurance policies in addition to different supplemental insurance coverage insurance policies. They’re very financially secure, though they’ve had some complaints from clients about gradual payout occasions and different customer support points.

Total, Colonial Life & Accident Insurance coverage Firm is a dependable possibility for all times insurance coverage and is a very nice alternative for those who’re additionally wanting so as to add incapacity or accident insurance coverage on high of that. They’re additionally a very talked-about alternative for employers who wish to present life insurance coverage protection for his or her staff.